The year of reckoning creeps a bit closer

The two major entitlement programs are going broke a little sooner than planned:

The funds for Social Security and Medicare, the federal government's two largest entitlement programs, will go bust sooner than estimated just one year ago, reveals a report released on Monday.

The funding shortfalls come at no surprise with the trust fund for Social Security projected to be depleted in 2040 while Medicare will have no fund reserves left in 12 years. In last year's report, Social Security was projected to be depleted by 2041, one year later than projected now, and Medicare in 2020, two years later.

Well, don’t just do something! Stand there!

Extra – Another classic headline from Fark: “Social Security, Medicare to run out of money sooner. Baby Boomers seen laughing and yelling at kids to get off their lawns.”